๐ What is DN-404
Last updated
Last updated
DN-404 refers to an open source implementation that allows creating a hybrid ERC-20/ERC-721 token.
Key points:
It uses two contracts - an ERC-20 "base" token and a "mirror" ERC-721 NFT.
The ERC-20 handles most trading and tracks balances. It mints/burns the ERC-721s based on thresholds.
The ERC-721 acts as a standard NFT, compatible with existing protocols.
This allows fractional trading of NFTs natively on DEXes via the ERC-20, while still being able to use the ERC-721 on NFT marketplaces.
Provides native fractionalization and increased liquidity for NFT projects.
In summary, it's an innovative implementation to create hybrid fractional NFTs with liquidity on both DEXes and NFT platforms.